All participants in the payments system must work together to ensure that payment innovation advances safely, Federal Reserve Governor Jerome Powell said today at a payments conference in Kansas City.
When a cyber event or data breach happens, bank executives need to be ready to communicate—both internally and externally. Here’s how to prepare.
Last night, within the first 10 minutes of general availability for .bank domain names, more than 3,000 applications were received. These applicants join the 782 financial institutions that applied for .bank domains during the “sunrise” period for banks whose names have previously been registered in an international trademark directory.
In preparation for this week’s U.S.-China Strategic and Economic Dialogue meetings, ABA and other groups that comprise the Engage China coalition reiterated the need for accelerated reform of China’s financial system. “A modern and competitive financial system, one that includes full participation by non-Chinese financial services institutions… is imperative for China to continue to meet
With the general availability period for applying for .bank domains coming on June 23 at 8 p.m. EDT, ABA urges bankers considering a .bank domain to carefully select a registrar in advance based on considerations of both service and price.
Retailers and other firms involved in the payments process should be subject to the same data security requirements as banks, ABA President and CEO Frank Keating and other trade group CEOs said in an op-ed today published in The Hill newspaper.
Regulated financial institutions bring security and stability to the payments system, Comptroller of the Currency Thomas Curry said at an industry event yesterday.
The new .bank and .insurance domains coming online this year will provide an “incredible opportunity” to provide a more secure payments infrastructure, ABA and the Financial Services Roundtable said in a letter to the Federal Reserve officials leading the Fed’s faster payments initiative.
Federal Communications Commission Chairman Tom Wheeler yesterday circulated a summary of his proposal to clarify the Telephone Consumer Protection Act’s restrictions on autodialed calls and texts. One item to be addressed is ABA’s petition to the agency for an exemption from TCPA’s requirement for “prior express consent” for autodialed calls to alert bank customers to fraudulent transactions, data breaches and actions required to complete funds transfers.